Kentucky Trust Co Takes Position in Medtronic plc (NYSE:MDT)

Kentucky Trust Co purchased a new stake in shares of Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 17,048 shares of the medical technology company's stock, valued at approximately $1,362,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock worth $661,125,000 after acquiring an additional 5,975,110 shares in the last quarter. Bank of Montreal Can raised its position in shares of Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock valued at $406,122,000 after purchasing an additional 1,790,483 shares during the period. Janus Henderson Group PLC boosted its holdings in Medtronic by 58.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock worth $346,705,000 after buying an additional 1,420,263 shares during the period. International Assets Investment Management LLC increased its stake in Medtronic by 8,908.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company's stock worth $116,896,000 after buying an additional 1,284,002 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in Medtronic by 5,124.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,035,708 shares of the medical technology company's stock valued at $93,245,000 after acquiring an additional 1,015,884 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.2 %

NYSE:MDT traded up $0.15 during mid-day trading on Wednesday, hitting $91.35. 7,053,193 shares of the stock traded hands, compared to its average volume of 7,167,588. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $117.14 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The firm's 50 day moving average is $85.04 and its two-hundred day moving average is $86.65.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company's revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. Medtronic's dividend payout ratio (DPR) is 85.63%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MDT shares. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Robert W. Baird reduced their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Wednesday, November 20th. Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Finally, Truist Financial lowered their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of "Hold" and an average target price of $95.00.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company's stock.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.